Essential Documents Required for Bajaj HFL Home Loan
1. Application Form and Passport-Sized Photographs
- • A duly filled and signed application form.
- • Recent passport-sized photographs of the borrower and co-applicants.
2. Identity Proof
- • PAN Card (mandatory for all borrowers)
- • Aadhaar Card
- • Passport
- • Voter ID Card
- • Driving License
These documents prove the applicant’s legal identity and are essential for the KYC (Know Your Customer) requirements.
3. Address Proof
- • Aadhaar Card
- • Passport
- • Voter ID
- • Driving License
- • Utility bills (like electricity, water, gas – not older than 3 months)
- • Bank Passbook or Tax receipts
- • Registered rent/lease agreement (if applicable)
4. Income Proof
For Salaried Applicants:
- • Appointment letter from current employer
- • Latest 3 months’ salary slips
- • Form 16 and Income Tax Returns (ITR) for the last 2-3 years
- • Bank statement showing salary credits for the last 6 months
- • Any promotion or increment letter.
For Self-Employed Applicants:
- • Proof of business registration/licensing
- • Audited profit and loss statements and balance sheets for the last 2-3 years
- • Income Tax Returns (ITR) for the previous 2-3 years
- • Bank statements for the business and savings account for the last 6 months
- • Professional practice license (for doctors, lawyers, consultants, etc.)
- • Partnership deed (if applicable)
- • Other business-related documents include GST registration and a trade license.
5. Documents Related to Property
- • A sale agreement or agreement to sell for the property.
- • Title deed or ownership documents.
- • Approved building plan and layout.
- • Payment receipts for payments made to the builder or seller.
- • The encumbrance certificate shows no legal dues on the property.
- • Occupancy certificate (OC) or completion certificate (CC) for ready properties.
- • No Objection Certificate (NOC) from the housing society or builder.
- • Property tax receipts.
6. Other Documents
- • The processing fee cheque is payable to Bajaj Housing Finance Ltd.
- • Loan statements of any ongoing loans, highlighting EMIs and outstanding balances.
- • Proof of self-contribution or down payment towards the property.
- • Signature verification from banks as necessary.
- • Passport and visa (for NRIs and PIOs), along with overseas address proof and account statements.
- • Power of attorney, if applicable.
Important Details About Bajaj HFL Home Loan
1. Eligibility Criteria
- • Applicant must be an Indian resident or Non-Resident Indian (NRI).
- • Age should be between 21 and 65 years (at loan maturity).
- • Suitable for salaried, self-employed professionals, and business owners.
- • Must have a stable income source and a good credit score.
- • Co-applicants such as spouse, parents, or siblings can be included to enhance eligibility.
2. Loan Amount and Tenure
- • Bajaj HFL offers home loans up to ₹15 crores.
- • Tenure can extend up to 30 years based on eligibility and repayment capacity.
- • Loan-to-value (LTV) ratio generally can be up to 90%, depending on income and creditworthiness.
3. Interest Rates
- • Interest rates start from approximately 8.25% per annum, subject to market rates.
- • Floating and fixed interest rate options are available.
- • Reduced rates may be available for women borrowers or existing customers with good credit history.
4. Processing and Disbursement
- • Loans are processed quickly, with document verification and credit evaluation.
- • Disbursement can be in a lump sum for ready properties or in stages for under-construction projects.
- • Prepayment and foreclosure options are generally penalty-free when repaid through one’s own funds.
5. Repayment Options
- • EMIs are payable monthly via post-dated cheques, ECS, or auto-debit.
- • Flexible repayment schemes like step-up/step-down EMIs and bullet repayments may be available.
6. Tax Benefits
- • Principal repayment qualifies for up to ₹1.5 lakh deduction under Section 80C.
- • Interest paid qualifies for up to ₹2 lakh deduction under Section 24(b).
- • Tax benefits reduce the effective home loan repayment burden.
7. Other Features
- • Loan against property and balance transfer facilities are also provided.
- • Bajaj HFL offers home improvement loans for renovation or extension work.
- • Dedicated customer support and doorstep document collection services.
- • Fast-track loans for salaried professionals with minimal documentation.
8. Tips for a Smooth Home Loan Processing
- • Prepare documents early to speed up approval.
- • Complete and accurate applications prevent delays.
- • Maintain a healthy credit score for better chances.
- • Keep income proof ready for faster verification.
- • Verify property documents thoroughly.
- • Consult Bajaj HFL representatives for assistance.
Bajaj Housing Finance Limited home loans have competitive interest rates, flexible repayment schedules, and various borrower-friendly features. However, success in securing a home loan depends heavily on submitting the correct and complete set of documents. Understanding and preparing for identity, income, property, and other requirements in advance makes the application process smoother.
Whether salaried or self-employed, Indian resident or NRI, Bajaj HFL facilitates home ownership with tailored solutions and faster processing. By staying aware of the detailed documentation needed, along with key loan terms, borrowers can confidently navigate their home financing journey toward realizing their dream home.